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Nov 9, 2004
Frontier Airlines Revises Fare Cap Policy
DENVER (November 9, 2004) - Frontier Airlines, Inc. (Nasdaq: FRNT) today raised its $299 fare cap in eight of its markets and in an additional four Florida markets on a seasonal basis. On average, the revised cap will represent approximately a 6.7 percent increase in the airline's highest fare class for fully refundable, walk-up fares. The company estimates that the new fare caps, which are intended to help offset historically high fuel prices, will impact only three percent of its customers.
"Frontier continues to be dedicated to offering the best value to our customers, providing a product that is second to none at fares that make air travel affordable," said Greg Aretakis, Vice President of Planning. "However, our ability to remain competitive in this market and to continue to offer an outstanding product and innovative pricing, is directly tied to how nimble we are and how quickly we can react and adapt to market changes. In the case of our fares, we capped them at $299 in January of 2004 at a time when fuel prices were still considered reasonable. Since then, Frontier and the entire industry have suffered a continual and steep increase in fuel prices and we have been forced to review our pricing structures in an effort to offset the additional fuel costs."